Aduro Biotech Inc. (ADRO) Trading Down 7% After Insider Selling
Aduro Biotech Inc. (NASDAQ:ADRO)’s share price fell 7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $12.59 and last traded at $12.68, with a volume of 85,259 shares traded. The stock had previously closed at $13.64.
Specifically, CEO Stephen T. Isaacs sold 27,273 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $12.67, for a total transaction of $345,548.91. Following the completion of the transaction, the chief executive officer now directly owns 129,473 shares in the company, valued at $1,640,422.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas W. Dubensky sold 25,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $14.03, for a total value of $350,750.00. Following the transaction, the insider now owns 16,407 shares of the company’s stock, valued at $230,190.21. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.
A number of research firms recently issued reports on ADRO. Zacks Investment Research downgraded Aduro Biotech from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target on shares of Aduro Biotech in a research report on Friday, August 5th. Finally, Roth Capital reissued a “buy” rating and set a $22.00 price target on shares of Aduro Biotech in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.
The stock’s 50 day moving average price is $14.06 and its 200-day moving average price is $13.10. The firm’s market capitalization is $826.91 million.
Aduro Biotech (NASDAQ:ADRO) last released its earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.21. Aduro Biotech had a negative net margin of 23.69% and a negative return on equity of 9.23%. The firm earned $39 million during the quarter, compared to analyst estimates of $25.24 million. The firm’s revenue was up 306.3% compared to the same quarter last year. Equities analysts anticipate that Aduro Biotech Inc. will post ($1.39) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Aduro Biotech by 198.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 65,571 shares of the company’s stock valued at $742,000 after buying an additional 43,636 shares during the last quarter. American Century Companies Inc. acquired a new position in Aduro Biotech during the second quarter valued at about $1,265,000. Metropolitan Life Insurance Co. NY acquired a new position in Aduro Biotech during the second quarter valued at about $312,000. QVT Financial LP acquired a new position in Aduro Biotech during the second quarter valued at about $2,171,000. Finally, AQR Capital Management LLC acquired a new position in Aduro Biotech during the second quarter valued at about $821,000. Hedge funds and other institutional investors own 29.76% of the company’s stock.
Aduro Biotech Company Profile
Aduro Biotech, Inc is a clinical-stage immunotherapy company. The Company is focused on the discovery, development and commercialization of therapies that transform the treatment of various diseases. The Company has developed approximately three technology platforms, which include Live, Attenuated, Double-Deleted (LADD), Stimulator of Interferon Genes (STING) Pathway Activator and B-select monoclonal antibodies.
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